Category: Tax Reform

Tax Reform

Expanded Tax Credit for Businesses Installing Alternative Fuel Refueling, Recharging Equipment by Claribel Velazquez, CPA


Posted on August 01, 2023 by Claribel Velazquez

The Inflation Reduction Act of 2022 (IRA) includes several tax credits and deductions intended to incentivize taxpayers to adopt alternative energy solutions in their homes and businesses. One such credit applies to the installation of products or facilities that store or dispense alternative fuels to motor vehicles, including electric charging stations and bidirectional charging equipment. […]

Rewards, Risks in Federal Student Loan Forgiveness Program by Angie Adames, CPA


Posted on September 08, 2022 by Angie Adames

On August 24, 2022, the Biden administration announced a three-point plan to cancel student loan debt for millions of eligible Americans and to extend the suspension of required federal student loan repayments that began at the start of the COVID pandemic. It is important taxpayers recognize that the plan does come with some restrictions and […]

President Proposes Higher Taxes on Billionaires, Corporations by Joseph C. Leuchter, CPA


Posted on April 20, 2022 by Joseph Leuchter

The Biden administration recently released its fiscal budget for 2023, which an accompanying fact sheet claims will help lower costs for American families, expand the productive capacity of the American economy and further reduce the deficit. To raise the revenue required to accomplish these goals, the budget proposes to modify existing business and international tax […]

It’s Not Too Early to Start Planning for January 2022 Gifts by Jeffrey M. Mutnik, CPA/PFS


Posted on December 16, 2021 by Jeffrey Mutnik

The IRS recently released the inflation-adjusted estate and gift exemptions for 2022, which provide families with enhanced opportunities to transfer significantly more assets to younger generations tax-free. However, families must consider these adjustments within the context of potential tax reform in the year ahead. For tax year 2022, the lifetime estate-tax exemption jumps $360,000 to […]